공익법인 지정추천제도가 공시수준에 미치는 영향 = The Effect of the Public Interest Corporation Designation Recommendation System on the Level of Disclosure

다국어 초록 (Multilingual Abstract)

This study examines the impact of the designation stage changes for general (designated) donation organizations on the disclosure level of financial statements for public interest corporations, based on the designation recommendation system for public interest corporations introduced with the amendment of Article 39 of the Corporate Tax Act Enforcement Decree in 2021. Specifically, the study conducted an empirical analysis on the effect of the designation recommendation system on the re－disclosure of financial statements for public interest corporations, using disclosure data from public interest corporations’ financial statements according to Paragraph 1 of Article 50－3 of the Inheritance and Gift Tax Act from 2018 to 2022, covering 22,963 public interest corporation－year cases.
The main findings of the empirical analysis are as follows.
First, The introduction of the designation recommendation system reduced the likelihood of re－ disclosure of financial statements by public interest corporations by 39.7%, indicating an enhancement in the level of disclosure. Second, For public interest corporations with a high public interest financial ratio, the likelihood of re－disclosure of financial statements decreased by 31.2% following the introduction of the designation recommendation system. Third, For public interest corporations with external audit obligations, the impact of increased re－disclosure decreased by 18.4% after the introduction of the designation recommendation system, further confirming improved disclosure levels.
In addition, this study divided the full sample into two subgroups based on whether double－entry bookkeeping was used and conducted additional analyses on the effect of the designation recommendation system on disclosure levels for each group. The additional analyses showed that the reduction in re－disclosure of financial statements was evident in both double－entry bookkeeping and non－double－entry bookkeeping public interest corporations. However, the decrease in re－disclosure due to the designation recommendation system for corporations with high public interest financial ratios or external audit obligations was observed only in corporations employing double－entry bookkeeping. Furthermore, additional analyses conducted using 2020 and 2021, after the public interest corporation disclosure system was strengthened, indicated a significant decrease in re－disclosure in 2021, following the introduction of the designation recommendation system, compared to 2020. For Hypothesis 2, additional analysis replacing the public interest financial ratio, which may involve subjectivity, with the public purpose business ratio commonly used in previous studies supported the hypothesis.
The contribution of this study lies in its empirical analysis of the effectiveness of the designation recommendation system, introduced to strengthen the public interest of donation organizations, across all public interest corporations, thereby expanding the scope of prior studies primarily focused on the social welfare sector. This offers insights for regulatory agencies, public interest corporations, and donors. Additionally, the results of this study are expected to help future researchers and students better understand policy realities, as they verify the positive effects of disclosure system changes aimed at enhancing the public accountability of nonprofit organizations.

참고문헌 (Reference)

1 "｢협동조합 기본법｣ 제85조"

2 "｢주식회사등의 외부감사에 관한 법률｣ 제2조"

3 "｢소득세법｣ 제34조, 제59조의4"

4 "｢상속세및증여세법｣ 제12조, 제43조의5, 제50조의3, 제50조의4, 제78조"

5 "｢상속세및증여세법 시행령｣ 제12조, 제38조, 제43조의5"

6 "｢법인세법｣ 제24조"

7 "｢법인세법시행령｣ 제38조, 제39조"

8 "｢법인세법시행규칙｣ 제38조의3"

9 "｢민법｣ 제32조"

10 "｢공공기관의 운영에 관한 법률｣ 제4조"

11 미디어오늘, "정의연 사태 ‘만든’ 언론 보도 톺아보다"

12 신현걸, "정부회계" 도서출판 지승 2021

13 오광욱 ; 마희영, "전기오류수정손익이 발생액의 질에 미치는 영향" (56) : 20-38, 2014

14 김문현, "재량적발생, 전기오류수정과 회계변경을 이용한 이익조정의 선택" 12 (12): 103-120, 2011

15 오명전 ; 손성규, "오류수정 이후의 회계정보 신뢰성 변화" 37 (37): 41-85, 2012

16 박성환 ; 이호영 ; 강선아 ; 채수준, "사회복지법인의 공시실태 분석" 23 (23): 487-521, 2014

17 신현걸, "비영리조직회계기준과 공익법인회계기준의 비교를 통한 조화 방안의 모색" 36 (36): 213-244, 2018

18 권선국 ; 장지영, "비영리법인의 회계 현황과 개선방안" 18 (18): 99-139, 2020

19 "국세청"

20 "국세청"

21 김완희 ; 임채창 ; 엄기중, "공익법인회계기준의 정보유용성 제고방안에 관한 연구" (77) : 49-80, 2023

22 한승엽 ; 박선영 ; 조재희, "공익법인회계기준 시행과 공익법인 회계품질 및 기부자 기부의사결정 변화" 39 (39): 51-87, 2021

23 한승엽 ; 최세라 ; 양승희 ; 윤소은, "공익법인의 회계정보가 기부자의 기부의사결정에 미치는 영향 : 예산집행 정보와 회계품질을 중심으로" 44 (44): 67-111, 2019

24 조세일보, "공익법인, 5월 2일까지 결산서류 공시해야 … “사후점검 강화”"

25 전규안 ; 박진하, "공익법인 투명성 확보를 위한 결산서류등의 공시 개선방안" 31 (31): 163-192, 2022

26 국세청, "공익법인 세무안내"

27 김형모 ; 박진하 ; 박경호, "공익법인 공시제도 강화가 공익법인의 재공시에 미치는 영향" 41 (41): 163-191, 2023